Dow Jones Commodities News Select reports that the Starbucks Coffee Co. announced Friday night it had reached a settlement with Paul Twohig, a former executive who ran the company’s retail operations in the U.S. southeast who left to take over as brand operations officer for rival Dunkin’ Donuts parent Dunkin Brands. Starbucks sued Twohig, claiming he had signed a noncompete agreement, according to a report published Oct. 7 in the Boston Business Journal.
According to Starbucks, Twohig will not be permitted to join Dunkin until January, and Starbucks will be paid $500,000, although the Seattle company did not say whether it would be Twohig or Dunkin who would write the check. According to the Seattle company, he also promised not to share Starbucks’ trade secrets with Dunkin’ or to start work before Jan. 15.
As part of the settlement, “Mr. Twohig…reconfirmed his commitments not to share Starbucks trade secrets and other confidential information with Dunkin’ at any time,” Starbucks announced. “We are pleased that the settlement allows both parties to move forward without protracted litigation.”
Other related articles at DDIFO.org: